The Sarbanes-Oxley Bill
A recent Bill calls for civil and criminal remedies against employees reporting securities fraud to company supervisors or law enforcement agencies. It entrusts audit committees with the job of establishing procedures for handling audit-related complaints. The Bill envisages the setting up of a Public Company Accounting Oversight Board (PCAOB) to oversee the working of public accounting firms. The paper examines the provisions of the Bill related to the aforesaid issues.